BULLS on TATASTEELHI!
Here we've got rising triangular, breaking resistance now.
Before we saw expanding triangular, so price is about to rise now!
Have a good trade!
Ascending
GBPCHF| Ascending Double Top Reversal Play ;)Price as been corrective for some time now, we're approaching a potential Double Top area, we'll be looking for the LTF correction after the breakout as our confirmation and entry.
GBPJPY | Bearish Continuation Correction + Ascending withinWe didn't get our confirmation entry this week but it's okay as we're approaching our swing high area correctively which increases our short probability, so nothing really changed.
AUDCAD| Ascending Structure Reversal Play :)We had a Descending Structure from which we had beautiful bullish plays from the Swing low area, but now we finally broke out, initially we were looking for a correction after the breakout to keep the bullish momentum however now Price is correcting in a bit an ascending nature meaning the bullish bias may not be as strong as we thought. Now I'll be looking to see if the ascending correction continues, if/when the correction completes and we get LTF correction after the breakout I'll be happy to take that to the downside.
GBPCAD| Ascending Structure Double Top Reversal Play :)Had a short bias for a while on GC, however the confirmations we were waiting for, didn't pan out. The bias remains the same and the structure just evolved into a deeper ascending structure, this gives us an even better shot for the short play. Now we're looking for an ascending structure at our 3rd touch on the resistance trendline, this will be added confluence at the HTF Double top area which increases the short probability. All 3 types of entries could be used there depending on the development of PA.
BTC aiming up now?In the immediate shot-term, BTC is coiling up for retest 46,6k, former support, now resistance. Formed ascending triangle on 30mins chart. A good sign is if BTC goes above and holds it, but if rejected again, could be seen as a bearish retest... and not so great sign... Indicators look descent for a possible move up. Good luck traders
ADAUSD Price Decision Looms OverheadImportant things to note:
Price decision coming soon
200MA was tested
Main Trendline was tested for a second time
price retreats to support again trying to consolidate
Ascending wedge broke to downside (did not create lower low)
The slope of ADA is flattening
BTC has failed to close above 51K for now
Important Dates to Take Note of:
BTC becomes legal tender in El Salvador Sep 7 2021
ADA Alonzo (smart contracts) go live Sep 12 2021
ADA Summit Sep 25-26 2021
So, ADA has tested the main trendline again, and like last time, it has moved itself up to its support area to further consolidate. Again, the best we can hope for in the short term is a run to 3.16-3.24 which represents a fib extension and a target from a previous cup and handle pattern. However, the price movement solely depends on the fact that BTC closes above 51K. If that can happen, there will likely be a small push forward because it will squeeze the shorts against it. BTC still looks like it can go in either direction. ADA however, is testing the main trendline which is never great. If you are bullish, you would like to see it test the 200MA every now and again, but a break from the main trendline will signal a pullback. Right now we are playing the waiting game and the game is likely to continue while there is less volume due to the weekend. Keep your eye on the main trendline. If I wanted to enter ADA and hadn't already, I would wait to see if the trendline holds for the next few days. Anyways, I will continue to watch ADA and post my updates on what I see. Set your alerts for the crossing of the main trendline.
Now for some good news. As a person who follows ADA closely, I know that the adoption of the platform will happen very quickly with the release of smart contracts on the 12th of September. In fact, I think it was built with such a great foundation, I might just do an entire post on the fundamentals of Cardano sometime in the future. Pretty soon, we will see NFTs being created, DeFi, applications being developed, and overall strong adoption of the ADA blockchain platform as a whole. If there will be any immediate reason for ADA to move higher, it will likely be news coming from the summit on the 25-26 of September. So I would keep an eye on their twitter accounts around that time.
Again, I apologize for having less time to post at the moment, but that will change in a couple weeks.
I am going to make a video soon teaching everyone my approach to charting. I will cover the entire workflow process I go through. I hope you enjoy it.
Tell me what you think?
This is not financial advice. DYODD.
Jokes on you if you sold your $Tel!Just a quick snapshot of where we are currently at with Telcoin.
$Tel is moving within a nice ascending channel which is bullish , RSI is in on an ascending trend as well.
The bright green line within the ascending channel is what believe the next moves for telcoin will be, (keep in mind this is a prediction based on the VPVR indicator & resistance levels).
Patience will pay off! When $tel gets going I believe it will knock down those resistance levels & surpass the ATH with ease!
We are still heading upward which is most important, I think this is the best time to get into $telcoin.
If you don't know what Telcoin is …. you will soon find out!
ADAUSD Triangle Breaks Trendline TestedImportant things to note:
Descending Triangle broke at 2.90 signaling test
200MA was tested
Main Trendline was tested
price retreats to support
Ascending wedge breaks to downside
Important Dates to Take Note of:
BTC becomes legal tender in El Salvador Sep 7 2021
ADA Alonzo (smart contracts) go live Sep 12 2021
ADA Summit Sep 25-26 2021
So, as I said before if the descending triangle breaks, there will be a test of the 200MA and the main trendline, which is what has occurred. The price bounced off of the main trendline and retreated to its support. However, there will likely be more tests coming. If the price can be held at the main trendline, things won't be so bad for now. Set your alert for the main trendline. The reason for this is that a break from the main trendline will signal a significant pullback, most supports will be tested until it finds a support it likes. I believe this will probably be around 2.2, but it will not happen overnight. BTC was looking as though it was going to pullback. Most analysts agree it will likely end September at 43k, then make an extreme bull run to new heights, and I agree as well. The only way out of a BTC pullback was a short squeeze, which seemed possible when I looked at how much money short sellers lost on Thursday. However, to complete this, BTC needed to close at 51k, which it did not do. That being said, ADA could pullback. However, it might not be as bad as you think. 2.2 is a reasonable estimate without including the smart contract release, good news coming out of the support, or BTC becoming legal tender on the 7th of September. These events will likely cause a positive price movement for ADA so it might not be as bad as 2.2. I like considering a reasonable estimates without adding in any unknowns, for example good news. If the unknowns due happen to influence the price, I will modify my estimate. That being said, I will keep and eye on the movements. Set your alerts for the main trendline. And if possible, try to relax, ADA has quite a bright future ahead of it, in my humble opinion.
Now for some good news. As a person who follows ADA closely, I know that the adoption of the platform will happen very quickly with the release of smart contracts on the 12th of September. In fact, I think it was built with such a great foundation, I might just do an entire post on the fundamentals of Cardano sometime in the future. Pretty soon, we will see NFTs being created, DeFi, applications being developed, and overall strong adoption of the ADA blockchain platform as a whole. If there will be any immediate reason for ADA to move higher, it will likely be news coming from the summit on the 25-26 of September. So I would keep an eye on their twitter accounts around that time.
Again, I apologize for having less time to post at the moment, but that will change in a couple weeks.
I am going to make a video soon teaching everyone my approach to charting. I will cover the entire workflow process I go through. I hope you enjoy it.
Tell me what you think?
This is not financial advice. DYODD.
Bitcoin to end of year prediction & important points..Bitcoin to end of year prediction & important points.. A perfectly lined up ascending triangle, that was freshly formed on the daily. I see the lowest we go is 46k area being the worst, as long as we can close daily's above 46800, I'm overall bullish until we start closing below 46800.
EURUSD IS IN DESCENDING CHANNEL!!The currency is in its downtrend channel after a strong fall.
The price has now hit the channel line and there is a possibility of falling to the specified zone.
However, if the downtrend is broken, we will see an ascent to a higher target.
AUDCAD Ascending ChannelDecision point in the market where we could see a reversal in the bearish trend but until that is confirmed, we have a nice respected level of resistance which also happens to be forming a nice ascending channel.
ADAUSD Clearly Bullish SentimentADA showed us last night that it has strong bullish support and has no intention of retreating until it tests the all time again at least one more time. I am actually surprised at the amount of bullish sentiment after a failed run to all time high. Usually, the price is severely punished after an all time high miss. However, the bulls don't seem to care, and will not be exploited by the sellers. This is definitely a quality unique to the crypto space. I like to air on the side of caution however. I would rather be careful than foolish. If we take a look at the chart I noticed a giant ascending triangle that has formed with the top being the all time high range and the hypotenuse being the slope. Since the volume has had time to consolidate, the support zones are clearly defined and have a massive amount of volume behind them. The consolidation pattern that is forming at the moment is flagging. The price is still in the consolidation zone I created on my last chart and I believe it will stay here until it is ready. It is not the prettiest pattern, but it will do for now. We are likely to see more consolidation and a strong push to test the all time high in the coming days. I will be watching closely.
I am going to make a video soon teaching everyone my approach to charting. I will cover the entire workflow process I go through. I hope you enjoy it.
Now lets talk about why ADA has so much strength. Cardano is about to release smart contract September 12 with the Alonzo release. This addition makes it a viable competitor to ETH as an open source platform. Right now, it is just a glorified ledger. As a person who plans to be a Cadano Developer once Alonzo is released, it makes me wonder how far ADA can go. I have heard people say it cannot go to 100 dollars because it will need around a 3T market cap. But considering in the past 2 weeks ADA has added 31B to its market cap, it's definitely not out of the realm of possibility. Also, considering Grayscale Investments has picked it up, I think it has a LOT more room to grow.
Tell me what you think?
This is not financial advice. DYODD.
SOL ascending triangleSOL in ascending triangle, could breakout soon, Volume decreasing and Sol running out of space. BTC drop could ruin this so watch BTC PA also
Ascending within Ascending Channel + Breakout bear Flag entryPotential Reversal play within the HTF Ascending Structure, the ascending within does not look complete yet. Will only take the Correction After the breakout (CAB) entry on this, no risk entry.
DOTBTCI think we might be seeing an inverted head and soulders pattern in daily chart from DOT/BTC. Upside potencial goes to aproximately 0.00075 by this pattern. Shall we wait for the confirmation. In the way to the high point of the pattern it might be a resistance from a suport point of the last bear, breaking could throw the prices above the pattern prediction.
An ascending wedge pattern is near to break downside!In continuation of the previous post, a nice ascending wedge pattern is near to break downside! what does it mean ?
1- Ascending wedge pattern most of the time informs us about a reversal in the market, mostly in combination with other signals
2- The amounts of this decline is measured by its altitude, in our case, it is 40.5K
3- Remember it needs a proof for breaking its lines (in the case of decline= lower line), so don't hurry but wait for it then get a short position or wait for your desired price to get in (get a long position)
And don't forget; if it is not able to break the lower line, it will go up slightly to reach upper line and test it again and again to finally break one side and move as fast as possible.
Ascending wedge coming to the end on GoldWe are in a bearish move down where gold is forming an ascending wedge, looks like plenty of short term downside here to grab a few points.
Google Trade Opportunity Google's price has been in a clear ascending symmetrical channel for almost 10 months now. The bias on this should be bearish, however, Google has just bounced once again off of the lower level of the channel thus confirming it as support once more. Downside risk is around 2.5% as a return to the lower trendline would not be out of the ordinary. A break and close below the trendline on the weekly will be enough to refrain from seeking any further immediate longs.
Your profit taking target will be the top of the channel which is currently sitting at around 12% to the upside.
BNBA won't waiting any LONGer..!BUY strat..
SPEC Buy: NOW 1530-1655
GOOD Buy: IF Break 1660
Swing Target 2445
CL at 1300 (-17%)
Good Luck!
NZDCAD - possible wildcardhi everyone - haven't posted in a while but im back on the charts!
looking over the pairs NZDCAD has caught my eye, after breaking an ascending structure on the daily sitting nicely in the amber zone. price shows a clear 'scoop' (double top) with an element of structure that can be seen approaching the value area on the 4H. i am looking for an entry in the green zone on the lower degree next week if price is to form an element of structure, given the price action previously and the aggressive sell off, i will be inclined to take a RE in this area. if anything else is to form, confirmation and a lower time frame continuation pattern will do just nicely!
dont sleep on this one!
have a good week everyone!
Connor
Technical analysis of bitcoin chartsIn my opinion, as I explained in the previous post, this bitcoin chart chart will continue until almost the end of July, and we will have to wait and see what happens next.
I think there are two events ahead of Bitcoin in late July
$ 25,000 Bitcoin Or $ 45,000 Bitcoin
